Gold bulls remain optimistic, and the increase in option contracts attracts attention

The Hash World Chain news indicates that even the historic pullback has not unsettled the steadfast gold bulls, who still expect gold prices to surge to unprecedented levels again. At the end of January, New York gold futures prices briefly surpassed a new high of $5,600 per ounce, but plummeted the next day. Against this backdrop, some investors have increased their positions in call option spread contracts expiring in December with strike prices of $15,000 and $20,000 at the Chicago Mercantile Exchange (COMEX). Although gold prices have been consolidating around $5,000, the position in these contracts continues to expand, currently accumulating to about 11000 contracts. "It is indeed surprising to see so many deeply out-of-the-money call option contracts still open after a technical pullback," said Akash Dohi, head of global gold and metal strategy at State Street Global Advisors. Some traders may view it as a cheap lottery opportunity.